Which description fits the process of voiding checks?

Voiding checks is a process that allows you to cancel a previously issued check without removing it from your transaction history. When a check is voided, the amount associated with that check is adjusted in the accounting records, but the original transaction remains. This is important for maintaining accurate historical records and ensuring that audit trails are preserved. By keeping the transaction in the system, it allows for more transparent tracking of financial activities and helps in reconciling accounts accurately, as all transactions, even voided ones, provide insights into the transactions that have occurred.

In contrast, removing a check entirely from history could lead to discrepancies in financial records and impact reporting. Adjusting only the amount would not properly reflect the cancellation of the payment, and using voiding to record a new payment method is not the intended purpose of this function. Lastly, voiding checks does not automatically reconcile the bank account; account reconciliation involves comparing the company's records to bank statements and addressing any discrepancies, which is a separate process.